Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by SpiderRock Advisors LLC

SpiderRock Advisors LLC increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 74.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,297 shares of the oil and natural gas company’s stock after buying an additional 1,830 shares during the period. SpiderRock Advisors LLC’s holdings in Diamondback Energy were worth $741,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. ABLE Financial Group LLC grew its holdings in shares of Diamondback Energy by 13.9% during the third quarter. ABLE Financial Group LLC now owns 6,814 shares of the oil and natural gas company’s stock valued at $1,175,000 after purchasing an additional 829 shares during the last quarter. Heritage Wealth Management Inc. boosted its position in Diamondback Energy by 1.8% during the 3rd quarter. Heritage Wealth Management Inc. now owns 4,830 shares of the oil and natural gas company’s stock valued at $833,000 after purchasing an additional 85 shares during the period. AIA Group Ltd grew its stake in Diamondback Energy by 7.7% during the 3rd quarter. AIA Group Ltd now owns 8,400 shares of the oil and natural gas company’s stock worth $1,448,000 after buying an additional 600 shares during the last quarter. Summit Global Investments acquired a new stake in Diamondback Energy in the third quarter worth $202,000. Finally, Confluence Investment Management LLC lifted its stake in Diamondback Energy by 5.5% in the third quarter. Confluence Investment Management LLC now owns 3,867 shares of the oil and natural gas company’s stock valued at $667,000 after buying an additional 200 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.48% of the stock is owned by insiders.

Diamondback Energy Price Performance

NASDAQ FANG opened at $181.88 on Monday. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The stock’s 50-day moving average price is $181.77 and its two-hundred day moving average price is $192.25. The company has a market cap of $53.61 billion, a PE ratio of 10.41, a PEG ratio of 1.29 and a beta of 1.89. The company has a current ratio of 0.45, a quick ratio of 3.64 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the company posted $5.49 EPS. The firm’s revenue was up 13.0% compared to the same quarter last year. On average, analysts predict that Diamondback Energy, Inc. will post 17.1 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.90 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.98%. Diamondback Energy’s dividend payout ratio is 20.61%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FANG. Bank of America increased their price objective on shares of Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a report on Wednesday, November 6th. Benchmark reissued a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a report on Tuesday, October 29th. JPMorgan Chase & Co. assumed coverage on Diamondback Energy in a research note on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 target price on the stock. Finally, Morgan Stanley boosted their price target on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average target price of $209.64.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.